Stick Packaging Market is estimated to be US$ 2471.22 billion by 2029 and is anticipated to register a CAGR of 7.50%

 

Packaging is a process of enclosing a product for the storage purpose. Stick Packaging is a reasonably flexible packaging where products are packed; these products are in type of liquid/ solid/ semi-solid. The name of stick packaging comes from its shape. They’re skinny, flexible, narrow, and convenient pouches accustomed pack dry powders in order that they will be easily transferred. Stick packaging are very efficient and economical for food packaging. They’re smaller than portion pack thus comparatively effective. Stick packaging are widely used to pack coffee and tea, sweeteners, pharmaceutical products, dry milk, etc.

The report "Global Stick Packaging Market, By Material (Paper, BOPP, Aluminum, Plastic, and others), By Application (Food & Beverages, Pharmaceutical, Consumer Goods, and others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         In August 2019, Berry Global Group, Inc. acquired RPC Group Plc. These acquisitions strengthen the global footprint of the company.

·         In April 2018, PPC Flexible Packaging has launched a redesigned website as part of a rebranding initiative prompted by the 2017 merger of Fisher Container and Packaging Products Corporation into PPC Flexible Packaging. The redesigned website offers immediate access to essential product and company information through a highly-approachable user interface. The website functionality and streamlined design communicate the company’s new visual identity while highlighting a market focus on consumer flexible packaging and cleanroom packaging.

Analyst View:

Rise in demand for material used in stick packs from emerging economies, growth in industrialization, and rapid increase in applications drive the global stick packaging market. With spur in per capita income and rise in advent of convenient and eco-friendly packaging have stimulated the demand for stick packs. U.S. and China are assumed to witness the highest demand for stick packaging. The demand for stick packs is projected to rise in the developing countries with the rise in population in countries such as China, Brazil, and some other Asia-Pacific countries that include India and Thailand. The increase in awareness regarding clean water, safe food, and pharmaceuticals is expected to drive the packaging market.

Increasing demand for packaged food due to its health benefits coupled with busy lifestyle of consumers which prefer packaged products are some other factors expected to drive growth of the global stick packaging market. Additionally, rising consumer disposable income has led to a rise in demand for garden-fresh products. Increasing consumer demand for environment-friendly food packaging solutions with low costs and ease of handling is expected to drive the demand over the next few years. However, lack of available sources of credit, high cost of packaging materials, and legislation across boundaries deters the market growth. Recent stringent regulations regarding use of plastics hamper the growth.

Key Market Insights from the report:        

The global stick packaging market accounted for 1201.7 million in 2020 and is estimated to be US$ 2471.22 million by 2030 and is anticipated to register a CAGR of 7.50%. The market report has been segmented on the basis of material, application and region.

·         Depending upon material, the paper segment is projected to grow at highest CAGR over the forecast period. The paper and paper-based material segment accounted for a revenue share of 31.9% of the total food packaging market in 2019. Growth of this segment is driven by high product adoption in a bid to substitute non-biodegradable packing solutions. Innovations in design, ease of printability, and sustainability give paper packaging a competitive advantage over plastic and metal packaging solutions.

·         Depending upon application, the food & beverages segment is projected to grow at highest CAGR over the forecast period. Consumers want healthy food and beverage options at their fingertips. The on-the-go generation seeks out coffee shops and healthy fast-food outlets for a variety of options. Consumers prefer stick packaging for food and beverages as it offers a healthy single-serve option for the customers.

·         By region, The Asia-Pacific region is expected to witness the highest growth during the forecast period due to the rising middle-class population and rise in disposable income of the people in this region. The emerging economies such as China, Brazil, and South Africa prefer new innovative flexible packaging over using traditional rigid packaging, which will result in the growth of this market.

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Competitive Landscape:

The prominent player operating in the global stick packaging market includes Bemis Company, Inc., Amcor Corporation, Ball Corporation, Reynolds Group Holdings, Inc., Smurfit Kappa Group, Berry Plastics Corporation, EXAIR Corporation, RPC Group Plc., Rexam Plc., and Bosch Packaging Technology.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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